Sharing Economy News
Our latest news coverage of the sharing economy, from on-demand transportation and accommodation, through to personal services and peer-to-peer finance.
Abu Dhabi’s tech hub sees surge of interest from start-ups
Abu Dhabi’s new technology hub says it has seen a surge in interest from start-up firms in the UAE and abroad despite the economic impact of the coronavirus pandemic last year, ami...
London’s newest online grocery delivery app comes from Russia with love
Russia’s biggest internet company dispatched its yellow-shirted moped riders to deliver groceries across London, the latest newcomer to launch in a crowded sector that is for...
NYC will not enforce restaurant customer data-sharing law while DoorDash sues
New York City agreed to hold off on requiring food delivery companies to share customer data with restaurants, the subject of a recent lawsuit by DoorDash Inc.
Uber temporarily suspends Brussels service in first for Europe
Uber Technologies Inc joined a protest of its drivers in Brussels with an unprecedented suspension of its service in the Belgian capital.
Restaurant-software maker Toast valued at nearly $33 billion
Toast Inc fetched a valuation of nearly $33 billion in its NYSE debut, as shares of the restaurant software provider jumped 63%, underscoring a deep investor appetite for fast-grow...
Uber could post first adjusted profit this quarter as ride demand returns
Uber could post its first profit on an adjusted basis for the current quarter, reaching the elusive milestone sooner than expected as online food ordering surges and ride bookings ...
HelloFresh to spend nearly $60 million for new hires in tight labour market
HelloFresh will spend 50 million euros (approximately $58.91 million) to recruit 1,000 new tech employees across Germany, the United States, Canada and Australia over the next 12 m...
DoorDash sues New York over customer data law, second lawsuit in week
DoorDash Inc sued New York City over a new law requiring food delivery companies to share customer data with restaurants, saying it violates customer privacy and lets restaurants c...
Tech workers bemoan China’s crackdown on compulsory overtime
The Chinese communist government’s campaign to improve conditions for workers has spurred companies, particularly some of its tech giants, to cut down on long hours of compul...
Russia’s Yandex restructures JV ownership with Uber in $1 billion deal
Yandex has said it would buy Uber’s stakes in their joint FoodTech, delivery and self-driving businesses, and increase its stake in a mobility-focused joint venture as part o...
Uber proposes industry-wide gig worker benefits model in Canada
Uber Technologies Inc has proposed a plan for a flexible benefits fund for app-based ride-hail and food delivery drivers in Canada under which all gig industry players would share ...
New York City approves licenses, commission caps for food-delivery apps
The New York City Council has approved legislation to license food-delivery apps including Grubhub, DoorDash and Uber Eats and to permanently cap commissions they can charge restau...
Didi suspends UK launch plans amid China crackdown on tech firms
Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph has reported, against the backdrop of a regulatory bac...
For bank regulators, platform giants are now ‘too big to fail’
More than a decade on from the financial crisis, regulators are spooked once again that some companies at the heart of the financial system are too big to fail. But they’re n...
Takeaway.com posts operating loss of $224 million, sees improvement in second half
App-based delivery giant Just Eat Takeaway.com has reported a better-than-expected operating loss of 190 million euros (approximately $224 million) for the first half of 2021.